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Posts from ‘June, 2014’

Rich hypocrite Jorma Ollila joins U.S. investment bank

By John Donovan

Jorma Ollila, the departing Chairman of Royal Dutch Shell Plc., has joined a New York based investment bank, Perella Weinberg Partners.

I can only assume that they are not concerned by the scandal of his failure to disclose ownership of a Luxembourg company worth €8.2 million. He admitted breaking the law,  but prefers to call it “neglecting the law.”

This from a man who has preached the gospel of transparency.

What a gap between the lofty rhetoric in his speeches, no doubt written by someone else, as opposed to his actual deeds. read more

Marvin Odum speaks out

Article by M. Nadeem published 27 June 2014 by insider under the headline: “Royal Dutch Shell plc’s Subsidiary Shell Oil Company President Marvin Odum Discusses Energy Industry State”

In a Fox News’ Opening Bell program on June 27, Shell Oil Company’s, a subsidiary of Royal Dutch Shell plc), President, Marvin Odum, talked about the current energy industry situation. Mr. Odum said that they are worried about raising oil prices, but, at the same time, they also understand that geopolitical events and other dynamics across the industry.

Talking about oil supply, Mr. Odum stated that there is no production impact as a result of what is going on in Iraq, and hopefully it will never happen. He also noted that “energy demand is doing nothing but increasing. And that’s even with tremendous efforts around efficiency, alternative fuels and everything else.” read more

Shale’s junk debt could get shaky if Fed raises rates

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Extracts from a Houston Chronicle article by Collin Eaton published 27 June 2014

(Good article. Not Shell specific, but a generic problem to which Shell is heavily exposed)

Two years after natural gas prices collapsed, Chesapeake Energy’s $12 billion in corporate debt last month nearly made it out of junk territory.

The natural gas producer has sold off thousands of acres, curbed billions in spending, cut a tenth of its workforce and banished its chief executive in the effort to trim a debt-laden balance sheet.

A credit upgrade in May signaled progress, but hardly an end to an episode that has highlighted the dangers of the U.S. shale industry’s addiction to risky debt. read more

Spot the Rooney in your portfolio

Screen Shot 2014-06-28 at 10.46.12Extracts from a Motley Fool article by Harvey Jones published by The Yorkshire Post on 28 June 2014 under the headline: “Motley Fool: Spot the Rooney in your portfolio

Tesco isn’t the only stock displaying Rooney-esque tendencies. Anglo-Dutch oil major Royal Dutch Shell has also been off the pace.

First quarter earnings of $4.5bn were sharply down from $8bn one year earlier.

Broker UBS recently complained the stock was losing “near-term momentum”, just as Rooney did as he approached the penalty box against Italy…

Shell once looked like a world beater.

Lately, it has been scaling back its ambitions, pulling out of shale gas, selling its stake in the Brazilian deepwater project BC-10, and turning down major projects in Australia and Louisiana. read more

BP and Shell keep a watchful eye on events in Iraq

Screen Shot 2014-01-30 at 00.47.49Extracts from a This Is Money/Daily Mail article by Rob Reed published 27 June 2014 under the headline: “BP and Shell keep a watchful eye on events in Iraq as violence continues to escalate in the region”

The upward pressure on oil prices since terror group ISIS began its horrific offensive has been echoed by even bigger movements in the share price of firms with an Iraqi presence. The two British supermajors with a foot in Iraq are BP and Shell, the former operating the vast Rumaila field and the latter developing sister prospect Majnoon. Both have removed non-essential staff but say their operations, in the to-date peaceful oil-rich south of the country, have been unaffected. If Baghdad were to be overrun, that would be a different matter, but oil industry types are quietly hopeful that it won’t come to that. read more

Greenpeace scales EU buildings to protest energy reliance on Russia

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Extract from EuropeOnline-Magazine article published 27 June 2014

Brussels (dpa) – Greenpeace activists climbed buildings and cranes near an EU summit Friday in a protest denouncing big energy companies for boosting the bloc‘s reliance on Russian gas and oil imports. Greenpeace said 35 activists unfurled banners from their perches despite tight security measures in place for the summit. The banners pictured a car driving over a cliff with wheels bearing the logos of French energy giant EDF, Dutch-based Shell and German companies E.ON and RWE. Several activists could be seen hanging from a crane overlooking the summit venue. read more

LNG as a fuel carries with it many risks

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Extracts from a article by Joseph Keefe published 26 June 2014 under the headline: “Maritime Fuel of the Future: Training to an Uncertain Standard”

First extract

Despite its unquestionable allure, LNG as a fuel carries with it as many risks as it does answers to the problems it promises to solve.

Second extract

Separately, Royal Dutch Shell plc announced in December that the company would not move forward with a proposed 140,000 barrels per day Gulf Coast gas-to-liquids (GTL) project in Louisiana. Shell described the decision tersely by saying, “Despite the ample supplies of natural gas in the area, the company has taken the decision that GTL is not a viable option for Shell in North America, at this time, due to the likely development cost of such a project, uncertainties on long-term oil and gas prices and differentials, and Shell’s strict capital discipline.” read more

High level of corporate secrecy in Myanmar oil & gas sector-Global Witness survey

Screen Shot 2014-02-10 at 16.29.29Extract from a Thomson Reuters Foundation article by Thin Lei Win published 26 June 2014

YANGON (Thomson Reuters Foundation) – As resource-rich Myanmar gears up to join the global anti-corruption scheme for the oil, gas and mining sector, a survey by a London-based advocacy group found widespread corporate secrecy in the sector, which has long been plagued by corruption.

Of the 47 local and international companies which won major oil and gas blocks in October and March, only 13 responded to questions about their ownership, Global Witness said on Thursday. The Netherlands’ Berlanga Holding B.V., Italy’s Eni, Anglo-Dutch Shell and Thailand’s PTTEP South Asia, a subsidiary of publicly traded PTTEP, are among those that did not respond, it said. read more

One Reason Why I Wouldn’t Buy Royal Dutch Shell plc Today

Screen Shot 2014-06-23 at 11.37.41Extracts from a Motley Fool article by Royston Wild published 26 June 2014 

Shell has spun off a multitude of upstream and downstream assets in recent years in order to build its dividend and share repurchase-supporting cash pile and reduce its exposure to non-core assets. The oil giant also offloaded its Australian Geelong refinery and almost 900 pump stations in Australia to Vitol for $2.6bn back in February, and follows other downstream sales including that of its liquefied petroleum gas (LPG) operations in the Philippines late last year. The business has also offloaded upstream assets from the UK to Egypt and across Scandinavia over the past 12 months. The effect of this severe asset cutting caused total output during January-March to drop 9% to 3.3 million barrels of oil equivalent per day, and the company has hinted at further divestments to come. read more

Ukraine Discomfort for Shell and Chevron

Screen Shot 2014-03-04 at 17.39.57Shell entered into the deal in 2013 with then Putin puppet President Viktor Yanukovych, before he was ousted. As can be seen in the FT article, Shell and Chevron are now both trying to hide behind claimed business principles. Its a bit late for that.

By John Donovan

The Financial Times has published an article about the uncomfortable position of Shell and Chevron in the Ukraine crisis.


Getting caught up in a war zone ranks among the worst-case scenarios for an oil company. This has happened to Royal Dutch Shell in eastern Ukraine, where heavy fighting between pro-Russian separatists and Ukrainian military forces continues.

What is even worse is that both energy giants have Ukrainian partners in shale gas deals with dubious connections to the former regime, in a country famed for corruption.  read more

Are Asset Sales the Answer for Royal Dutch Shell plc?

Screen Shot 2014-06-23 at 11.37.41Extracts from a Motley Fool article by Arjun Sreekumar published 23 June 2014

On Monday, Shell announced the sale of a 19% stake in Woodside Petroleum, a deal that is expected to raise $5 billion. On Wednesday, the company announced that it had filed a registration statement with the U.S. Securities and Exchange Commission related to the proposed IPO of its pipeline subsidiary, which could raise up to $750 million. Due largely to ill-timed investments in U.S. shale, continued security issues at its Nigerian operations, and its beleaguered drilling program in Alaska’s Chukchi Sea, Shell’s return on capital employed, or ROCE, averaged under 15% from 2008 to 2012. Sales of under performing downstream and upstream North American assets are providing much-needed cash and should help the company gradually improve its return on capital. Overall, the combination of asset sales, reduced spending, and higher cash flow should allow Shell to grow its dividend at a stronger pace over the next few years, assuming commodity prices remain high and assuming that the oil giant can bring new projects online on time and on budget. read more

Chevron Cancels Bulgaria Fracking, Shell Postpones Ukraine Plans

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Screen Shot 2014-03-04 at 17.39.57Extracts from a CorpWatch article by Richard Smallteacher publish 12 June 2014

Fracking for oil and gas across Europe has suffered a series of setbacks with Chevron closing its offices in Sofia, Bulgaria, and Shell postponing fracking plans in the Ukraine by at least two years. Meanwhile the French government is standing firm in its opposition to fracking. Shell announced that it would take a respite from drilling for gas in the 8,000-square-kilometer Yuzivska field in the eastern Ukraine in early June. The company was awarded the concessions by the government of Viktor Yanukovych in January 2013, a year before he was ousted from office by violent protests this past February. Since then, clashes between government forces and pro-Russian militias have caused Shell to reconsider, not least because Shell has other lucrative energy deals in Russia. “We obviously need to assess the future security situation as it develops because the safety of our own people is our first priority,” Simon Henry, Shell’s chief financial officer, told Bloomberg TV. “Russia is a major holder of hydrocarbon reserves, possibly the largest in the world. So in the long term it really does matter.” read more

Film of Royal Dutch Shell founder Sir Henri Deterding giving a Nazi salute

Video clip from a PBS TV Documentary adapted from Daniel Yergin’s book “The PRIZE: Epic Quest for Oil, Money and Power. Published in 1992 by FREE PRESS ISBN 0-671-79932-0

The Prize (Part 2 of 8) – “Empires of Oil”

Covers the story of Royal Dutch Shell.

Includes, at just over 49 mins, film of Royal Dutch Shell founder Sir Henri Deterding giving a Heil Hitler salute at a major sporting event for Shell employees celebrating his birthday. 

Extract from narration by Donald Sutherland: read more

Shell Sells Eagle Ford Assets as Part of Global Repositioning

Screen Shot 2014-06-23 at 11.37.41Extract from an Industrial Info Resources article by John Egan published 23 June 2014

Royal Dutch Shell plc is selling its acreage in the Eagle Ford Shale to Sanchez Energy Corporation for about $639 million, continuing the super-major’s asset sales and portfolio repositioning. Shell bought that acreage a few years back for an estimated $1 billion. Last summer, the super-major took a $2.1 billion write-down on the value of its Eagle Ford assets.


Shell logo fourth oldest in the world

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Extract from an article by Thomas C. Frohlich and Alexander Kent, 24/Wall St. published 21 June 2014 under the headline: “The 10 oldest company logos in the world”
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Shell offers $51 million to settle Nigerian oil spills claim, but will pay much more

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By John Donovan

The London law firm Leigh Day has rightly rejected a £30 million pounds ($51 million) offer from Shell to settle a compensation claim from 15,000 residents of the Bodo community in Gokana Local Government Area of Rivers State, Nigeria. 

The offer emerged from a London court hearing on Friday 20 June 2014.

The following outspoken comment was attributed to a senior Shell executive.

The Managing Director of the Shell Petroleum Development Company of Nigeria Limited (SPDC), Mr. Mutiu Sunmonu yesterday called on the affected community to direct their UK lawyers to stop wasting more time pursuing enormously exaggerated claims, saying the company wants to compensate fairly and quickly those who have been genuinely affected and also clean up all the affected areas. read more

Royal Dutch Shell $750,000,000.00 Project Cardamom Fraud?

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Shell is developing its major Cardamom oil and gas field in the deep waters of the Gulf of Mexico. 

By John Donovan

A Shell employee, Danny Hanna discovered accounting irregularities while working at Shell Exploration and Production as Cost Management Lead on the Cardamom project. 

His supervisor was moving funds and deleting numbers to falsify reports to senior management and these false reports were subsequently delivered to the board of directors. The numbers consisted of miscalculations in estimates in the funding required to build and complete Subsea Tiebacks in the Gulf of Mexico, Shell Project Cardamom Deep. According to legal documents, the false reporting amounted to $750,000,000.00 plus dollars. read more

Shell Says Wins U.K. Court Ruling in Nigerian Oil Spills Case

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BloombergBusinessweek article by Jeremy Hodge published Friday 20 June 2014

A Royal Dutch Shell Plc (RDSA) subsidiary said it won a preliminary ruling in a U.K. court against thousands of Nigerians who say their land, rivers and wetlands were spoiled by two oil spills in the Niger River delta in 2008.

Judge Robert Akenhead ruled today that a Nigerian law, the Oil Pipelines Act, is adequate for compensating for spills, limiting the scope of the U.K. litigation to an assessment of actual damages caused, the company said in a statement today.

The lawsuit against Shell’s Nigerian subsidiary was filed by residents of the coastal Bodo community in 2012 after two spills on the Bomu-Bonny Pipeline in 2008, Shell said. read more

Shell in the US courts again for alleged theft of trade secrets

Screen Shot 2014-06-10 at 19.31.34 John  Donovan

A notice is prominently displayed on my website warning against disclosing ideas to Royal Dutch Shell without taking every possible precaution. The websites creation a decade ago was prompted by Shell stealing ideas from me during the 1990’s.

Shell subsequently set up schemes – GameChanger and Ideas360 – to vacuum up ingenious ideas on an industrial scale. In other words, to get its hands on as many novel ideas as possible. 

Students have been enticed with promises of finance and even the chance to win prizes. read more

Joint call for inquiry into Corrib policing

Screen Shot 2014-06-16 at 17.34.44Extracts from an Irish Times article by Lorna Siggins published 20 June 2014

Social justice campaigner Fr Peter McVerry, Lord Mayor of Dublin Christy Burke, four TDs, one Senator and seven academics are signatories to a petition for an independent inquiry into policing of the north Mayo Shell/Corrib gas dispute.

Transparency International chief executive John Devitt, Garda whistleblower John Wilson, former UN assistant secretary general Denis Halliday and film-maker Lelia Doolan have also signed the petition, supported by five non-governmental organisations (NGOs) and 31 public figures. read more

The Real Reason Shell Halted Its Ukrainian Shale Operations

Screen Shot 2014-02-10 at 16.29.29Extract from an article by Igor Alexeev published 19 June 2014

Royal Dutch Shell has blamed air strikes by the government in Kiev against its own citizens in southern Ukraine as the reason it decided to declare a halt to its shale oil projects in the troubled region. In reality, the truth may be closer to the fact that company is disappointed with the economic viability of what it once thought was a large shale deposit and is looking for a way out. According to a recent statement by the former head of Royal Dutch Shell, Peter Voser, “the company is now analyzing its business in shale,” which, translated from the streamlined language of press releases, means: The project is not earning its keep and we need to do something (Read: write off expenses).
read more

Shell signs surveillance deal with Ogoni, denies plot to resume oil production

Screen Shot 2013-10-15 at 01.43.07Extracts from TheGuardian (Nigeria) article by Kelvin Ebiri published 19 June 2014

SHELL Petroleum Development Company has said its signing of multimillion dollar pipeline surveillance contract with some Ogoni communities in Rivers State, is not a plot to resume oil production there. The company which was forced to shut its operational activities in Ogoni in 1993 following an uprising by local communities protesting against environmental degradation, said the implementation of the United Nations Environment Programme on Ogoni is being handled by the Federal Government of Nigeria. read more

Shatter raises concerns about GSOC leadership

Screen Shot 2014-06-19 at 17.25.56Extracts from an RTE News report published Thursday 19 June 2014 under the headline: “Former Minister for Justice Alan Shatter slams ‘fundamentally flawed’ Guerin Report”

Former Minister for Justice Alan Shatter (right) has accused Judge Sean Guerin of a “fundamentally flawed preliminary inquiry and report and an unprecedented rush to judgement”.

Mr Shatter was speaking during a Dáil debate on the Cooke report into allegations of bugging at the Garda Síochána Ombudsman Commission.

Earlier, he said that as minister he had dealt with bugging allegations at the Garda Síochána Ombudsman Commission in a straightforward and truthful manner.

Mr Shatter said it was disturbing that the GSOC commissioners were so “imprecise” in their account to an Oireachtas committee that they fuelled speculation that Mr Shatter’s first statement to the Dáil was inaccurate. read more

Bonaparte Surrender

By John Donovan

It seems that the alarming articles we have published about the Royal Dutch Shell Prelude FLNG project, highlighting risks based on insider information and expert opinion, may have had an unintended impact. 

According to a Dow Jones news report published today, GDF Suez SA and Santos Ltd have both withdrawn from their plans to develop their own floating liquefied natural gas project off the northern coast of Western Australia – the Bonaparte venture.

The article points out that budget overruns at a number of LNG developments in Australia “have underscored the risks for international energy companies weighing new projects.” read more


Screen Shot 2014-04-28 at 21.53.48Article by Ejiofor Alike published 19 June 2014 by Codewit World News

A United Kingdom Court will on June 20 deliver judgment on preliminary issues raised in the legal action brought by about 15,000 members of Bodo community in Gokana Local Government Area of Rivers State against Shell.

The 15,000 fishermen are seeking compensation for damages caused by two oil spills in 2008 and the judgment will form the basis of potentially the largest ever environmental legal trial expected to take place at the High Court in London in May 2015.

The ‘preliminary issues hearing’, which took place last April, was the first time Shell had to face a formal court proceedings in the UK for its environmental record in the Niger Delta, following two massive oil spills in 2008 and 2009. read more


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Without toluol and without petrol and oil fuel supplied by the SHELL organisation, the Allies could not have beaten the Germans.”-Financial News.

By John Donovan

Searching for historic information about Royal Dutch Shell, I stumbled across a book entitled “THE SHELL THAT HIT GERMANY HARDEST.”

I believe it was published by “SHELL” MARKETING Co, LTD in 1920, getting on to a hundred years ago. 

It proudly and properly boasts about the laudable role of Shell in the First World War for which the founder of Royal Dutch Shell, Henri Deterding, received his knighthood. The French Government “conferred upon Mr. H. W. A. Deterding the dignity of Officier de la Legion d’Honneur “ read more

Making Shell more palatable as an acquisition target?

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Screen Shot 2014-06-18 at 19.42.34From a regular contributor

I think the Ho Ho line may be one of the assets being sold as part of the IPO announced today. 

Document filed with United States Securities and Exchange Commission 18 June 2014

On another subject completely….the Chinese have done a large scale LNG deal with BP and at the same time announced that their cooperation with Shell will continue. Shell promotes itself as the big LNG player, so why is this LNG deal going to BP? In spite of all the spin, Shell and CNOOC agreeing to continue cooperation is hardly an earth shattering event, so why does it justify so much coverage? read more

Changes to Ireland’s licensing terms for oil and gas

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News Release – Issued by Shell to Sea

June 18th , 2014 – For immediate release


State continues to rely primarily on corporation tax to extract revenue

The changes to Ireland’s licensing terms for oil and gas announced by Pat Rabbitte today (18th June 2014) are cosmetic and will do little to address the State’s mismanagement of its valuable resources, according to Shell to Sea.[1]

Shell to Sea spokesperson Maura Harrington said: “These changes are cosmetic, Ireland will continue to rely almost exclusively on a tax on profits as a means of extracting revenue from the oil and gas it has given to private companies. We have seen recently how creative accounting has resulted in corporations such as Apple paying almost no tax on profits in Ireland .” [2,3] read more

Shell Midstream applies for U.S. IPO

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(Reuters) – Royal Dutch Shell: Wednesday 18 June 2014

* Files to raise up to $750 million

* Company formed by Royal Dutch Shell as an MLP

(Reuters) – Shell Midstream Partners LP, a master limited partnership formed by Royal Dutch Shell Plc, filed with U.S. regulators on Wednesday to raise up to $750 million in an initial public offering of common units.

The master limited partnership (MLP) structure allows companies to raise money in the stock market while having income taxed only at the unit holder level, avoiding corporate income taxes.

Shell Midstream said in its IPO prospectus it plans to use proceeds from the offering to acquire stakes in some pipeline companies from Shell Pipeline Company LP, a U.S. unit of Royal Dutch Shell, in exchange for cash distribution. read more

Clare Daly says gardaí at Corrib gas site are the ‘hired hands’ of Shell

Screen Shot 2014-06-16 at 17.29.11Extract from an article by published 17 June 2014

INDEPENDENT TD CLARE DALY has backed the calls of Shell to Sea campaigners for an independent inquiry into the policing of the Corrib gas project in Co Mayo. Speaking in the Dáil this afternoon, Daly said that the “continued intimidation and harassment of the local community” by Shell needed to be investigated. Daly claimed that certain gardaí monitoring the project were acting as “hired hands for a multinational” and “arresting people without charge”. read more

Shell signs global strategic alliance agreement with CNOOC

Screen Shot 2014-02-10 at 16.29.29(Reuters) – Royal Dutch Shell: Tuesday, 17 June 2014

* Shell and CNOOC sign global strategic alliance agreement

* Shell and China National Offshore Oil Corporation (cnooc) announced today that they have signed a global strategic alliance agreement

* Under agreement, companies also commit to exploring potential cooperation opportunities in upstream, midstream and downstream

* Agreement was signed by Royal Dutch Shell Chairman Jorma Ollila and CNOOC Chairman Wang Yilin

* Committed to growing business together with CNOOC and other Chinese partners and cooperating with them internationally to bring more and cleaner energy to china – CEO read more

Shell to sell most of stake in Australia’s Woodside for $5.7 billion

Screen Shot 2014-06-17 at 08.37.28Extracts from a Reuters article by Sonali Paul published Tuesday 17 June 2014

(Reuters) – Royal Dutch Shell launched a long-anticipated sale of most of its stake in Australia’s Woodside Petroleum Ltd on Tuesday, looking to reap about $5.7 billion as it moves to focus on developing its own gas assets in Australia. The selldown, which reduces Shell’s holding to 4.5 percent from 23.1 percent, removes uncertainty that has weighed on Woodside’s share price since Shell sold a third of its stake in 2010 and flagged it was not a long term holder.  The sale, which came the week Woodside’s stock hit a three-year high, had been expected this year after Shell Chief Executive Ben van Beurden took the helm in January outlining plans to sell $15 billion worth of assets. read more

Call for a Public Inquiry into the Policing of the Shell/Corrib Gas Project

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Screen Shot 2014-06-16 at 17.34.44Call for a Public Inquiry into the Policing of the Shell/Corrib Gas Project by the named eminent individuals and parties listed below

We support the recent demands for an inquiry into allegations of systemic Garda corruption and violence. We believe any such inquiry should include the Shell/Corrib pipeline police operation in North West Mayo. This is one of the longest running police operations in the history of the Irish state and has drawn critical attention from national and international human rights organisations1 since 2006 over the alleged violence and intimidation used by Gardaí against campaigners.

In 2007, campaigners submitted complaints en masse against the Gardaí to the newly established Garda Síochána Ombudsman Commission (GSOC). Out of the 111 complaints received by GSOC between May 2007 and November 2009, 78 were deemed admissible and 7 sent to the DPP. The DPP rejected prosecution in all 7 cases. The majority of campaigners have since stopped submitting complaints to GSOC. In 2010, complaints from 400 Kilcommon residents were submitted to Shell’s Belmullet office detailing the “escalating physical and psychological harassment” continuing in the area. In 2012, residents again submitted a mass complaint, this time to Mayo County Council, outlining serious grievances arising out of the project, including experiences of private security and state policing, with no result. Any inquiry into the policing of the Shell/Corrib Gas Project cannot ignore the following extract from the minutes of the Shell Committee of Managing Directors meeting held in London 22/23 July 2002:”It was noted that development of the Corrib field may be delayed until 2004 as planning consent had been refused for the terminal. The committee queried whether the Group had sufficiently well placed contacts with the Irish government and regulators. Paul Skinner undertook to explore this issue further in consultation with the Country Chairman in Ireland”. read more

BP And Shell Land China Deals

Screen Shot 2014-01-30 at 00.47.49Extracts from an article by Sky News City Editor Mark Kleinman published 16 June 2014 under the headline: “BP And Shell Land China Deals As Premier Visits” read more

€1.5bn to be spent on Irish oil and gas finds in next three years

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Screen Shot 2014-02-10 at 16.29.29Extract from an Irish Times article by Ciaran Hancock published Mon 16 June 2014

About €1.5 billion will be spent on oil and gas exploration around Ireland over the next three years, according to a study by accounting group PwC. Eighty per cent of those surveyed said they were optimistic about the chances of discovering oil here but almost two-thirds said the future development of the industry would depend on the licensing and financial terms offered by the Government. Nine out of 10 respondents said the “events” in Corrib, where Shell has been seeking to develop a natural gas field since 1996 against a backdrop of significant local opposition, had done “serious or significant damage” to Ireland’s reputation among international oil and gas companies. read more

Shell senses huge profit potential in China

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From the China Daily website published Friday 13 June 2014

Multinational oil company Royal Dutch Shell Plc will continue to invest in China and considers the country to be its most important market in which to grow its retail business, a senior official said on Thursday.

Istvan Kapitany, executive vice-president of Shell Retail, said China plays a key role for the company in 70 targeted countries. “We will continue to invest in China since the potential of the retail market in China is significant,” said Kapitany.

According to the Netherlands-based company, Shell opened almost one service station per day in China in 2012 as demand grew. At present, the company operates about 1,100 service stations in the country. read more

Essar to sell UK’s second-biggest refinery

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Screen Shot 2013-12-22 at 19.09.52Extract from a Financial Times article James Crabtree in Mumbai published 12 June 2014

India’s Essar Group plans to sell the British oil refinery it bought from Royal Dutch Shell for $350m in 2011, as the struggling conglomerate attempts to reduce debts and refocus on its core Indian business. “The truth is they should never have bought Stanlow, but Shell sold it on the cheap…”


Where is the queue to issue libel writs against John Donovan?

Screen Shot 2014-02-21 at 16.30.10Will the findings prompt some of the named cops to issue libel writs against me? No, not a chance, because they know the truth and have got no intention of taking any action that ends up with them having to give evidence under oath. Consequently there is not a single soul who has or will take legal action. 

By John Donovan

The proof is provided below that since OSSL allegations of Shell sponsored corruption on the Corrib Gas Project were first brought to my attention in September 2012, I have written and published over 100 articles on the subject. Our regular visitors must be thoroughly bored by the subject. I know that at least one is.

I have named numerous individuals as having knowledge of these matters and named senior Garda Cops that were up to their necks in the free Shell booze scandal.

Last August I published an article: Where is my defamation writ from Shell? read more

Screen Shot 2013-11-13 at 07.38.22Extract from Reuters EU Mergers & Takeovers Report published 12 June 2014

— Kuwaiti state oil group Kuwait Petroleum Corp to acquire Italian petroleum product companies Shell Italia SpA and Shell Italia Aviazione Srl from energy company Royal Dutch Shell (approved June 12)


Weighing the Risks of Investing in Energy Companies

Screen Shot 2014-02-18 at 18.34.00Extracts from an article by Stanley Reed published 11 June 2014 by The New York Times

…fund managers beginning to think skeptically about fossil fuel companies — not so much because they or their clients disapprove of their activities, but because they think the securities issued by these companies may prove poor long-term investments.

The reasoning, which has caught the attention of major oil companies like Royal Dutch Shell, is that after a period of relative inaction, world governments may be heading toward adopting tougher rules on emissions, transforming the economics of the energy business. Investment professionals say that there hasn’t been a mass exodus out of fossil fuels. read more

Equipment Fails on Shell Gulf of Mexico Drilling Rig

Screen Shot 2014-02-10 at 16.29.29Extracts from an article published by The Maritime Executive on 11 June 2014

The Bureau of Safety and Environmental Enforcement (BSEE) is responding to an equipment failure on board the Deepwater Nautilus semisubmersible drilling rig in the Gulf of Mexico, approximately 100 miles south of Fourchon, La. The offshore oil and gas operator, Shell Offshore Inc., reported that on June 9 during well operations, the rig’s traveling block fell. The traveling block is a large piece of equipment that supports the top drive which rotates drill pipe. There are no reports of injuries to personnel. There is no reported pollution. read more

Shell GameChanger – Scam, or genuine Game Changer?

Naive students around the world are being targeted with all manner of hype and enticement, including $1,000 prizes in the USA, to submit their ideas to Shell, presumably in the belief that Shell can be trusted. Big mistake. 

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By John Donovan

I recently published an article about an inventor who has a concern that ideas he submitted in good faith to Shell GameChanger has been taken up and exploited without him receiving due credit and payment. He has supplied evidence that he did disclose ideas to Shell GameChanger over the last 15 years.

Shell GameChanger and Royal Dutch Shell Plc ignore all correspondence sent to them on the matter. Having enticed him into disclosing his ideas they are not prepared to explain whether they were adopted and used. Instead, total silence. read more

Jorma Ollila, tainted departing chairman of Royal Dutch Shell Plc

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“During Ollila’s time at the helm, Shell has spent hundreds of billions on new projects and lavished generous pay deals on its executives, leading to several protest votes by big investors.”

By John Donovan

The Sunday Times reported on the front page of its business section on 8 June 2014 the news that Shell has started a search for a new chairman to replace the tainted Finn, Jorma Ollila. 


“During Ollila’s time at the helm, Shell has spent hundreds of billions on new projects and lavished generous pay deals on its executives, leading to several protest votes by big investors.”

Mr Ollila was recently fined by market regulators for failing to disclose his ownership and control of a company in Luxembourg worth 8.2 million euros. He has admitted breaking the law. He prefers to call it “neglecting the law.” read more

Only a fraction of big gas export projects will be built, Shell exec says

Screen Shot 2014-02-10 at 16.29.29Extracts from a Seeking Alpha article published 9 June 2014

Only a fraction of the big natural gas export projects being developed around the world will become reality, as high costs and low profit margins in the gas sector sink those that once had promised huge returns on investment, Royal Dutch Shell (RDS.A, RDS.B) director of projects and technology Matthias Bichsel tells Reuters. He knows from experience: Estimated development costs for the Gorgon LNG project in Australia (Shell owns 25%) have soared from $37B initially to nearly $55B thanks to high labor expenses and complex technology, Shell quit the Wheatstone LNG project in the country, and it also has abandoned a proposed gas-to-liquids project in Louisiana. read more

For Western Oil Companies, Expanding in Russia Is a Dance Around Sanctions

Screen Shot 2014-06-10 at 08.08.45

Royal Dutch Shell Plc Chief Executive bows to President Putin during a meeting in Moscow April 2014: Maxim Shipenkov/European Pressphoto Agency

Extracts from a New York Times article by ANDREW E. KRAMER and STANLEY REED published in print 10 June 2014

Despite the push by Western governments to isolate Moscow for its aggression in Ukraine, energy giants are deepening their relationships with companies here by striking deals and plowing more money into the country. Royal Dutch Shell’s chief executive, Ben van Beurden, met with Mr. Putin in April and told him, “Now is the time to expand,” referring to a liquefied natural gas plant project. The companies are taking a calculated risk, given the threat of further sanctions. The risk for energy companies is that the next stage of sanctions, called the third phase, will be broader, cutting off dealings with major sectors of the economy like finance, metals and energy. The United States and its allies proposed such sanctions at a Group of 7 summit meeting in Brussels last week, to be carried out if the violence in Ukraine did not subside within a month. read more

Leaving a sinking ship: Royal Dutch Shell Plc

Screen Shot 2014-06-09 at 14.58.51Bichsel will undoubtedly leave shortly, joining Ollila, Rees, Brown, Brinded, Voser, Finlayson, Carne… And when everything starts to collapse, he will at least now have the satisfaction of saying “I told you so”. This is typical for a coward…

By John Donovan

Earlier today Reuters published comments attributed to Royal Dutch Shell Plc Executive Director, Matthias Bichsel.


“There is always so much talk about these big LNG projects around the world, but only a small fraction of them will get built,” said Matthias Bichsel, who is also a member of Shell’s Executive Committee.

The Financial Times has this weekend pointed put “the company’s leadership is changing at a time when its financial performance has been under scrutiny from investors” and also drew attention to the recent profit warning, following a succession of dismal quarterly results.  read more

Peter Voser spending more time with his family

Screen Shot 2014-01-03 at 14.32.05By John Donovan

When the surprise announcement was made by Peter Voser that he would be stepping down early from his position as Chief Executive of Royal Dutch Shell Plc, it was claimed that his early exit was prompted by a sudden desire to spend more time with his family.

It supposedly had nothing to do with the financial meltdown that happened on his watch and resulted in a profits warning being issued as soon as he had been pushed out the door. 

Voser was responsible for a number of bungled mega projects, including Arctic oil exploration. read more

Only a fraction of big gas export projects will be built – Shell

Screen Shot 2013-11-16 at 09.16.49Extracts from a Reuters article published Monday 9 June 2014

LONDON, June 9 (Reuters) – Only a fraction of the natural gas export projects being developed around the globe will become reality as high costs and weakening gas prices torpedo those that until recently promised huge returns on investment. 

But high development costs and low profit margins in the gas sector mean most of the projects will fail, Royal Dutch Shell’s director of projects and technology told Reuters in an interview.

“There is always so much talk about these big LNG projects around the world, but only a small fraction of them will get built,” said Matthias Bichsel, who is also a member of Shell’s Executive Committee. read more

Shell starts search for successor to chief

Screen Shot 2014-06-07 at 14.37.49Extract from a Financila Times article by Andrew Parker and Guy Chazan published 8 June 2014

One person familiar with the situation said Mr Ollila was planning to step down because of corporate governance rules, and that the timing of his departure had nothing to do with Shell’s recent financial difficulties. Ben van Beurden became the company’s chief executive in January, when it issued the first profit warning in its history. This… followed several quarters of disappointing results. read more

Quest project attracts worldwide interest

Screen Shot 2014-02-10 at 16.29.29Extract from Financial Times article by Ed Crooks published 8 June 2014

Royal Dutch Shell’s Quest project does not look much like a potential saviour of civilisation. Quest is one of the world’s most advanced projects for capturing and storing carbon dioxide, and many people believe this type of technology will have to be deployed on a vast scale to avert the threat of catastrophic global warming.


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